Lakeway, Texas is the area northwest of Austin situated on the southern edge of Lake Travis along Highway 620. This area is the place to be if you’re looking for a space with lake views and proximity to high-end commercial properties.
Originally seen as a location to retire, the area has grown due to the development of business, home properties, and strong public schools. Because of its ideal location on the water, you can find many luxurious places to play and relax, like the Lakeway Resort and Spa and the Hills of Lakeway Country Club. Also, the area’s marina allows locals to enjoy active lifestyles on the water – boating, water skiing, tubing, etc.
As part of the Southwest region of Austin, Lakeway contributes to the greater area’s commercial retail spaces. This entire region provides plenty of class A and class B spaces among the nearly 400 office buildings, totaling 10.5 million SF of Lakeway office space.
Leasing prices can range from $28 SF for class A space, $24 for class B space, and $22 for class C space. Also found throughout the Southwest region are 100 buildings of Austin warehouse space which provide nearly 4 million SF of space with an average leasing rate of $12 SF. And, there are plenty of retail spaces with 7.6 million SF of space among the 360 buildings. To lease retail space in Lakeway, expect an average leasing rate of about $23 SF.
Area and Community Info
If you’re looking for commercial real estate in Lakeway, you will find plenty of newly built spaces. As part of its plan to expand, Lakeway intends to annex 1,000 acres in the next ten years.
Expect to find mixed-use developments as well as new living spaces. There are also plans to add hotels, restaurants, medical complexes, and retail spaces. Another development that will impact the local area is the construction of the Lakeway Regional Medical Center that will include a hospital, medical space, and retail space.
The median housing price in the Lakeway area is $300,000.